C.5. PUBLIC HEARING AND FIRST READING OF ORDINANCE NO. 25-____ MODIFYING THE BASIS AND METHOD OF LEVYING ASSESSMENTS WITHIN THE SUNSET STRIP BUSINESS IMPROVEMENT DISTRICT BY ESTABLISHING A PROCEDURE FOR WAIVER OF PENALTIES AND/OR INTEREST ON DELINQUENT ASSESSMENTS AND CODIFYING THE SUNSET STRIP BUSINESS IMPROVEMENT DISTRICT REGULATIONS INTO THE WEST HOLLYWOOD MUNICIPAL CODE AND MAKING FINDINGS UNDER CEQA [L. BIERY, P. KESPRADIT, L. D'AMBROSIA, E. TSIPIS, A. RUIZ, J. JIMENEZ, M. CROWDER, L. LANGER]: SUBJECT: The City Council will hold a public hearing to consider the proposed modification to the assessment method and conduct the first reading by title only of Ordinance No. 25-___, which modifies the basis and method of levying assessments within the Sunset Strip Business Improvement District (BID) by establishing a procedure for waivers of penalties and interest on delinquent assessments and codifies the District's regulations, previously established through uncodified Ordinance Nos. 02-621, 02-632, and 04-679, into a new West Hollywood Municipal Code Chapter 5.129. Following the first reading, staff recommends scheduling a second reading and adoption at a future City Council meeting. It is recommended that the City Council proceed with these actions to finalize the proposed modifications and to codify the regulations.